The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

published:06 Jul 2018

views:51747

Tax havens and offshore accounts and trusts, detailed in the ParadisePapers, are used by the world's wealthiest to legally avoid paying taxes. Here's how they work and why they are a problem.
To read more: http://www.cbc.ca/paradisepapers
SOURCE LIST:
CBCNews | Paradise Papers investigation
http://www.cbc.ca/paradisepapers
International Consortium of Investigative Journalists | Paradise Papers investigation
https://www.icij.org/investigations/paradise-papers/
CBC News | Tax havens: How the rich hide money
http://www.cbc.ca/news2/interactives/offshore-tax-havens/index.htmlICIJ | Tax havens 101: The high cost of going offshore
https://www.youtube.com/watch?v=gy2RgjIIZyA
CBC News | Huge offshore data leak reveals financial secrets of global elite — from the Queen to former PMs http://www.cbc.ca/1.4387338
CBC News | How Canada got into bed with tax havens
http://www.cbc.ca/1.3641278
CBC News | Deals Canada signed to catch tax cheats allow billions in taxes to escape
http://www.cbc.ca/1.3639597
CBC News | Canadian ties exposed in leaked Bahamas tax-haven data
http://www.cbc.ca/1.3771867
Department of Finance Canada | Tax Information Exchange Agreements
https://www.fin.gc.ca/treaties-conventions/tieaaerf-eng.asp
»»» Subscribe to CBC News to watch more videos: http://bit.ly/1RreYWS
Connect with CBC News Online:
For breaking news, video, audio and in-depth coverage: http://bit.ly/1Z0m6iX
Find CBC News on Facebook: http://bit.ly/1WjG36m
Follow CBC News on Twitter: http://bit.ly/1sA5P9H
For breaking news on Twitter: http://bit.ly/1WjDyks
Follow CBC News on Instagram: http://bit.ly/1Z0iE7O
Download the CBC News app for iOS: http://apple.co/25mpsUz
Download the CBC News app for Android: http://bit.ly/1XxuozZ
»»»»»»»»»»»»»»»»»»
For more than 75 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.

published:05 Nov 2017

views:82991

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

published:27 Feb 2018

views:814051

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

published:07 Apr 2013

views:183716

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
---
Subscribe for more videos from the fifth estate : http://bit.ly/25W8cpn
Connect with the fifth estate online :
Website : http://bit.ly/1d0FBxq
Facebook : http://bit.ly/1UO9B8S
Twitter : http://bit.ly/237VM8P
Instagram : http://bit.ly/25W8SLs
About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.

published:04 Mar 2017

views:231569

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

published:23 Apr 2017

views:44288

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.
Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.
About TEDx
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

published:23 May 2013

views:43846

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Bermuda earned the dubious distinction of ranking No. 1 on Oxfam’s 2016 list of the world’s worst corporate tax havens. Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, U.S. multinational companies have raked in huge amounts of money in Bermuda, notably recording profits of $80 billion in 2012. That amount exceeded their profits reported in Japan, China, France and Germany combined.
NETHERLANDS
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam’s list of the worst corporate tax havens placed this Benelux country at No. 3.
National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam. In the Netherlands, one such tax incentive cost an estimated 1.2 billion euros in 2016. That is equivalent to 7.6 percent of what the Netherlands receives in total income from corporation tax.
LUXEMBOURG
Like the Netherlands, Luxembourg is one of the three countries that form the Benelux countries, which also have a reputation for being tax shelters. Luxembourg’s tax-haven status comes from its business-friendly laws that allow international companies to park portions of their business in the nation and dodge billions in tax bills. Tax-friendly characteristics include tax incentives, zero percent withholding taxes and evidence of large-scale profit shifting, according to Oxfam.
CAYMAN ISLANDS
The Cayman Islands offer “probably the biggest (tax) loophole now for individuals as well as the multinational corporations,” said CrystalStranger, Los Angeles-based tax operations director at 1st Tax Inc. The Cayman Islands come in at No. 2 on Oxfam’s list of the worst tax havens.
The Caymans are a British Overseas Territory, a designation that seems to be a common thread running through several tax havens on the Oxfam list. The Caymans and other countries with laws that allow a corporation to be formed and retain assets without paying tax, Stranger said. “When held for business purposes, this is perfectly legal and not a tax-avoidance strategy,” she said.
However, the tax advantages and implications are complex, and a professional is probably best equipped to handle them, she said.
The tax benefits can be worthwhile to the many businesses from the U.S. and around the world that have assets in the Caymans. In 2012, American multinational companies reported $46 billion in profits from subsidiaries based in the Cayman Islands, according to a report by Citizens for Tax Justice. That compared to a gross domestic product of just $3 billion for the territory.
SINGAPORE
This tiny sovereign city-state was once a British colony, and now is a hub for multinational corporate subsidiaries. Like the Netherlands and Luxembourg, Singapore actually has “reasonable” nominal corporate tax rates, according to Oxfam. Yet, like those nations, Singapore still finds a way to be one of the top tax havens in the world.
Singapore circumvents its “reasonable” corporate tax rates through tax incentives, lack of withholding taxes and what appears to be substantial profit shifting, according to the Oxfam report.
CHANNEL ISLANDS
Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries. For example, Morgan Stanley alone has 33 tax haven subsidiaries in the Channel Islands, according to a report by the Citizens for Tax Justice.
The Channel Islands consist of two British Crown dependencies:
The Bailiwick of Jersey, consisting of Jersey
The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and SarkCrown dependencies are not part of the United Kingdom, but are instead self-governing territories.
Jersey’s status as a tax haven rose in the mid-20th century, when many rich British citizens moved their wealth to the island. At that time

published:29 May 2017

views:4107

A peek inside the world of shadowy tax havens. The full story here: http://bit.ly/QFuqkX

published:22 Sep 2012

views:18363

American companies are finding new overseas tax havens to legally protect some of their profits from the U.S. tax rate of 35 percent, among the highest in the world. Lesley Stahl reports.

published:15 Aug 2011

views:157294

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
Like us on Facebook http://www.facebook.com/RTAmerica
Follow us on Twitter http://twitter.com/RT_America

published:06 Nov 2017

views:10901

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Tax shelter

Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws.

In North America, a tax shelter is generally defined as any method that recovers more than $1 in tax for every $1 spent, within 4 years.

Types of tax shelters

Some tax shelters are questionable or even illegal:

Offshore companies. Due to differing tax rates and legislation in each country, tax benefits can be exploited. Example: If Import Co. buys $1 of goods from India and sells for $3, Import Co. will pay tax on $2 of taxable income. However, tax benefits can be exploited if Import Co. is to set up an offshore subsidiary in the British Virgin Islands to buy the same goods for $1, sell the goods to Import Co. for $3 and sell it again in the domestic market for $3. This allows Import Co. to report taxable income of $0 (because it was purchased for $3 and sold for $3), thus paying no tax. While the subsidiary will have to pay tax on $2, the tax is payable to the tax authority of British Virgin Islands. Since the British Virgin Islands has a corporate tax rate of 0%, no taxes are payable.

Tax haven

A tax haven is a state, country, or territory where, on a national level, certain taxes are levied at a very low rate or not at all.

It also refers to countries which have a system of financial secrecy in place. It should be noted that, financial secrecy can be used by foreign individuals to circumvent certain taxes (such as inheritance tax on money, and income tax of the interest on the money you have on your bank account). Because the requirement of paying taxes on these funds cannot be transmitted, as the funds themselves are invisible to the country the individual is from, such taxes can be avoided. Earnings from income generated from real estate (i.e. by renting houses you own abroad) can also be eliminated this way. Despite this occasional abuse, the countries themselves stand in their right to have a system of financial secrecy in place, and it is up to the individual to fill in the required paperwork (i.e. double taxation forms). If the proper double taxation forms are filled in, and taxes are paid, companies can avoid much taxes, even if they hence pay their taxes legally. This is because the tax rates on income can be much lower than the tax rate in their own country. It should be noted that some taxes (such as inheritance tax on the real estate, VAT on the initial purchase price of the real estate -aka Transfer tax-, annual immovable property taxes, municipal real estate taxes, ...) can not be avoided or reduced, as these are levied by the country the real estate you own is in, and hence need to be paid just the same as any other resident of that country. The only thing that can be done is picking a country that has the smallest rates on these taxes (or even no such taxes at all) before you buy any real estate.

History

The Cayman Islands remained largely uninhabited until the 17th century. While there is no archaeological evidence for an indigenous people on the islands, a variety of settlers from various backgrounds made their home on the islands, including pirates, refugees from the Spanish Inquisition, shipwrecked sailors, and deserters from Oliver Cromwell's army in Jamaica.

The first recorded permanent inhabitant of the Cayman Islands, Isaac Bodden, was born on Grand Cayman around 1661. He was the grandson of the original settler named Bodden who was probably one of Oliver Cromwell's soldiers at the taking of Jamaica in 1655.

Tax Havens Explained

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

3:00

Paradise Papers: How tax havens work and why they are a problem

Paradise Papers: How tax havens work and why they are a problem

Paradise Papers: How tax havens work and why they are a problem

Tax havens and offshore accounts and trusts, detailed in the ParadisePapers, are used by the world's wealthiest to legally avoid paying taxes. Here's how they work and why they are a problem.
To read more: http://www.cbc.ca/paradisepapers
SOURCE LIST:
CBCNews | Paradise Papers investigation
http://www.cbc.ca/paradisepapers
International Consortium of Investigative Journalists | Paradise Papers investigation
https://www.icij.org/investigations/paradise-papers/
CBC News | Tax havens: How the rich hide money
http://www.cbc.ca/news2/interactives/offshore-tax-havens/index.htmlICIJ | Tax havens 101: The high cost of going offshore
https://www.youtube.com/watch?v=gy2RgjIIZyA
CBC News | Huge offshore data leak reveals financial secrets of global elite — from the Queen to former PMs http://www.cbc.ca/1.4387338
CBC News | How Canada got into bed with tax havens
http://www.cbc.ca/1.3641278
CBC News | Deals Canada signed to catch tax cheats allow billions in taxes to escape
http://www.cbc.ca/1.3639597
CBC News | Canadian ties exposed in leaked Bahamas tax-haven data
http://www.cbc.ca/1.3771867
Department of Finance Canada | Tax Information Exchange Agreements
https://www.fin.gc.ca/treaties-conventions/tieaaerf-eng.asp
»»» Subscribe to CBC News to watch more videos: http://bit.ly/1RreYWS
Connect with CBC News Online:
For breaking news, video, audio and in-depth coverage: http://bit.ly/1Z0m6iX
Find CBC News on Facebook: http://bit.ly/1WjG36m
Follow CBC News on Twitter: http://bit.ly/1sA5P9H
For breaking news on Twitter: http://bit.ly/1WjDyks
Follow CBC News on Instagram: http://bit.ly/1Z0iE7O
Download the CBC News app for iOS: http://apple.co/25mpsUz
Download the CBC News app for Android: http://bit.ly/1XxuozZ
»»»»»»»»»»»»»»»»»»
For more than 75 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.

5:12

How The Wealthy Hide Billions Using Tax Havens

How The Wealthy Hide Billions Using Tax Havens

How The Wealthy Hide Billions Using Tax Havens

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

3:41

Tax Havens 101: the High Cost of Going Offshore

Tax Havens 101: the High Cost of Going Offshore

Tax Havens 101: the High Cost of Going Offshore

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

43:00

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
---
Subscribe for more videos from the fifth estate : http://bit.ly/25W8cpn
Connect with the fifth estate online :
Website : http://bit.ly/1d0FBxq
Facebook : http://bit.ly/1UO9B8S
Twitter : http://bit.ly/237VM8P
Instagram : http://bit.ly/25W8SLs
About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.

6:02

Tax Havens and Off-Shore Banking Explained

Tax Havens and Off-Shore Banking Explained

Tax Havens and Off-Shore Banking Explained

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

16:50

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.
Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.
About TEDx
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Bermuda earned the dubious distinction of ranking No. 1 on Oxfam’s 2016 list of the world’s worst corporate tax havens. Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, U.S. multinational companies have raked in huge amounts of money in Bermuda, notably recording profits of $80 billion in 2012. That amount exceeded their profits reported in Japan, China, France and Germany combined.
NETHERLANDS
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam’s list of the worst corporate tax havens placed this Benelux country at No. 3.
National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam. In the Netherlands, one such tax incentive cost an estimated 1.2 billion euros in 2016. That is equivalent to 7.6 percent of what the Netherlands receives in total income from corporation tax.
LUXEMBOURG
Like the Netherlands, Luxembourg is one of the three countries that form the Benelux countries, which also have a reputation for being tax shelters. Luxembourg’s tax-haven status comes from its business-friendly laws that allow international companies to park portions of their business in the nation and dodge billions in tax bills. Tax-friendly characteristics include tax incentives, zero percent withholding taxes and evidence of large-scale profit shifting, according to Oxfam.
CAYMAN ISLANDS
The Cayman Islands offer “probably the biggest (tax) loophole now for individuals as well as the multinational corporations,” said CrystalStranger, Los Angeles-based tax operations director at 1st Tax Inc. The Cayman Islands come in at No. 2 on Oxfam’s list of the worst tax havens.
The Caymans are a British Overseas Territory, a designation that seems to be a common thread running through several tax havens on the Oxfam list. The Caymans and other countries with laws that allow a corporation to be formed and retain assets without paying tax, Stranger said. “When held for business purposes, this is perfectly legal and not a tax-avoidance strategy,” she said.
However, the tax advantages and implications are complex, and a professional is probably best equipped to handle them, she said.
The tax benefits can be worthwhile to the many businesses from the U.S. and around the world that have assets in the Caymans. In 2012, American multinational companies reported $46 billion in profits from subsidiaries based in the Cayman Islands, according to a report by Citizens for Tax Justice. That compared to a gross domestic product of just $3 billion for the territory.
SINGAPORE
This tiny sovereign city-state was once a British colony, and now is a hub for multinational corporate subsidiaries. Like the Netherlands and Luxembourg, Singapore actually has “reasonable” nominal corporate tax rates, according to Oxfam. Yet, like those nations, Singapore still finds a way to be one of the top tax havens in the world.
Singapore circumvents its “reasonable” corporate tax rates through tax incentives, lack of withholding taxes and what appears to be substantial profit shifting, according to the Oxfam report.
CHANNEL ISLANDS
Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries. For example, Morgan Stanley alone has 33 tax haven subsidiaries in the Channel Islands, according to a report by the Citizens for Tax Justice.
The Channel Islands consist of two British Crown dependencies:
The Bailiwick of Jersey, consisting of Jersey
The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and SarkCrown dependencies are not part of the United Kingdom, but are instead self-governing territories.
Jersey’s status as a tax haven rose in the mid-20th century, when many rich British citizens moved their wealth to the island. At that time

1:44

How Tax Shelters Work

How Tax Shelters Work

How Tax Shelters Work

A peek inside the world of shadowy tax havens. The full story here: http://bit.ly/QFuqkX

13:47

The new tax havens

The new tax havens

The new tax havens

American companies are finding new overseas tax havens to legally protect some of their profits from the U.S. tax rate of 35 percent, among the highest in the world. Lesley Stahl reports.

4:12

Paradise Papers: Global elite used offshore accounts to avoid taxes

Paradise Papers: Global elite used offshore accounts to avoid taxes

Paradise Papers: Global elite used offshore accounts to avoid taxes

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
Like us on Facebook http://www.facebook.com/RTAmerica
Follow us on Twitter http://twitter.com/RT_America

9:35

Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Tax Havens Explained

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

How The Wealthy Hide Billions Using Tax Havens

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

published: 27 Feb 2018

Tax Havens 101: the High Cost of Going Offshore

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

published: 07 Apr 2013

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man of...

published: 04 Mar 2017

Tax Havens and Off-Shore Banking Explained

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

published: 23 Apr 2017

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands...

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Ber...

published: 29 May 2017

How Tax Shelters Work

A peek inside the world of shadowy tax havens. The full story here: http://bit.ly/QFuqkX

published: 22 Sep 2012

The new tax havens

American companies are finding new overseas tax havens to legally protect some of their profits from the U.S. tax rate of 35 percent, among the highest in the world. Lesley Stahl reports.

published: 15 Aug 2011

Paradise Papers: Global elite used offshore accounts to avoid taxes

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
Like us on Facebook http://www.facebook.com/RTAmerica
Follow us on Twitter http://twitter.com/RT_America

published: 06 Nov 2017

Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Tax Havens Explained

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a co...

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Tax Havens 101: the High Cost of Going Offshore

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley...

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it c...

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
---
Subscribe for more videos from the fifth estate : http://bit.ly/25W8cpn
Connect with the fifth estate online :
Website : http://bit.ly/1d0FBxq
Facebook : http://bit.ly/1UO9B8S
Twitter : http://bit.ly/237VM8P
Instagram : http://bit.ly/25W8SLs
About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
---
Subscribe for more videos from the fifth estate : http://bit.ly/25W8cpn
Connect with the fifth estate online :
Website : http://bit.ly/1d0FBxq
Facebook : http://bit.ly/1UO9B8S
Twitter : http://bit.ly/237VM8P
Instagram : http://bit.ly/25W8SLs
About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.

Tax Havens and Off-Shore Banking Explained

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly de...

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain typ...

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.
Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.
About TEDx
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.
Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.
About TEDx
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax haven...

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Bermuda earned the dubious distinction of ranking No. 1 on Oxfam’s 2016 list of the world’s worst corporate tax havens. Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, U.S. multinational companies have raked in huge amounts of money in Bermuda, notably recording profits of $80 billion in 2012. That amount exceeded their profits reported in Japan, China, France and Germany combined.
NETHERLANDS
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam’s list of the worst corporate tax havens placed this Benelux country at No. 3.
National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam. In the Netherlands, one such tax incentive cost an estimated 1.2 billion euros in 2016. That is equivalent to 7.6 percent of what the Netherlands receives in total income from corporation tax.
LUXEMBOURG
Like the Netherlands, Luxembourg is one of the three countries that form the Benelux countries, which also have a reputation for being tax shelters. Luxembourg’s tax-haven status comes from its business-friendly laws that allow international companies to park portions of their business in the nation and dodge billions in tax bills. Tax-friendly characteristics include tax incentives, zero percent withholding taxes and evidence of large-scale profit shifting, according to Oxfam.
CAYMAN ISLANDS
The Cayman Islands offer “probably the biggest (tax) loophole now for individuals as well as the multinational corporations,” said CrystalStranger, Los Angeles-based tax operations director at 1st Tax Inc. The Cayman Islands come in at No. 2 on Oxfam’s list of the worst tax havens.
The Caymans are a British Overseas Territory, a designation that seems to be a common thread running through several tax havens on the Oxfam list. The Caymans and other countries with laws that allow a corporation to be formed and retain assets without paying tax, Stranger said. “When held for business purposes, this is perfectly legal and not a tax-avoidance strategy,” she said.
However, the tax advantages and implications are complex, and a professional is probably best equipped to handle them, she said.
The tax benefits can be worthwhile to the many businesses from the U.S. and around the world that have assets in the Caymans. In 2012, American multinational companies reported $46 billion in profits from subsidiaries based in the Cayman Islands, according to a report by Citizens for Tax Justice. That compared to a gross domestic product of just $3 billion for the territory.
SINGAPORE
This tiny sovereign city-state was once a British colony, and now is a hub for multinational corporate subsidiaries. Like the Netherlands and Luxembourg, Singapore actually has “reasonable” nominal corporate tax rates, according to Oxfam. Yet, like those nations, Singapore still finds a way to be one of the top tax havens in the world.
Singapore circumvents its “reasonable” corporate tax rates through tax incentives, lack of withholding taxes and what appears to be substantial profit shifting, according to the Oxfam report.
CHANNEL ISLANDS
Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries. For example, Morgan Stanley alone has 33 tax haven subsidiaries in the Channel Islands, according to a report by the Citizens for Tax Justice.
The Channel Islands consist of two British Crown dependencies:
The Bailiwick of Jersey, consisting of Jersey
The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and SarkCrown dependencies are not part of the United Kingdom, but are instead self-governing territories.
Jersey’s status as a tax haven rose in the mid-20th century, when many rich British citizens moved their wealth to the island. At that time

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Bermuda earned the dubious distinction of ranking No. 1 on Oxfam’s 2016 list of the world’s worst corporate tax havens. Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, U.S. multinational companies have raked in huge amounts of money in Bermuda, notably recording profits of $80 billion in 2012. That amount exceeded their profits reported in Japan, China, France and Germany combined.
NETHERLANDS
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam’s list of the worst corporate tax havens placed this Benelux country at No. 3.
National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam. In the Netherlands, one such tax incentive cost an estimated 1.2 billion euros in 2016. That is equivalent to 7.6 percent of what the Netherlands receives in total income from corporation tax.
LUXEMBOURG
Like the Netherlands, Luxembourg is one of the three countries that form the Benelux countries, which also have a reputation for being tax shelters. Luxembourg’s tax-haven status comes from its business-friendly laws that allow international companies to park portions of their business in the nation and dodge billions in tax bills. Tax-friendly characteristics include tax incentives, zero percent withholding taxes and evidence of large-scale profit shifting, according to Oxfam.
CAYMAN ISLANDS
The Cayman Islands offer “probably the biggest (tax) loophole now for individuals as well as the multinational corporations,” said CrystalStranger, Los Angeles-based tax operations director at 1st Tax Inc. The Cayman Islands come in at No. 2 on Oxfam’s list of the worst tax havens.
The Caymans are a British Overseas Territory, a designation that seems to be a common thread running through several tax havens on the Oxfam list. The Caymans and other countries with laws that allow a corporation to be formed and retain assets without paying tax, Stranger said. “When held for business purposes, this is perfectly legal and not a tax-avoidance strategy,” she said.
However, the tax advantages and implications are complex, and a professional is probably best equipped to handle them, she said.
The tax benefits can be worthwhile to the many businesses from the U.S. and around the world that have assets in the Caymans. In 2012, American multinational companies reported $46 billion in profits from subsidiaries based in the Cayman Islands, according to a report by Citizens for Tax Justice. That compared to a gross domestic product of just $3 billion for the territory.
SINGAPORE
This tiny sovereign city-state was once a British colony, and now is a hub for multinational corporate subsidiaries. Like the Netherlands and Luxembourg, Singapore actually has “reasonable” nominal corporate tax rates, according to Oxfam. Yet, like those nations, Singapore still finds a way to be one of the top tax havens in the world.
Singapore circumvents its “reasonable” corporate tax rates through tax incentives, lack of withholding taxes and what appears to be substantial profit shifting, according to the Oxfam report.
CHANNEL ISLANDS
Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries. For example, Morgan Stanley alone has 33 tax haven subsidiaries in the Channel Islands, according to a report by the Citizens for Tax Justice.
The Channel Islands consist of two British Crown dependencies:
The Bailiwick of Jersey, consisting of Jersey
The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and SarkCrown dependencies are not part of the United Kingdom, but are instead self-governing territories.
Jersey’s status as a tax haven rose in the mid-20th century, when many rich British citizens moved their wealth to the island. At that time

Paradise Papers: Global elite used offshore accounts to avoid taxes

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a ...

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
Like us on Facebook http://www.facebook.com/RTAmerica
Follow us on Twitter http://twitter.com/RT_America

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
Like us on Facebook http://www.facebook.com/RTAmerica
Follow us on Twitter http://twitter.com/RT_America

Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put ...

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Tax Havens Explained

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.
Will The UKBecome a Tax Haven After Brexit?: goo.gl/8dEHqP
Like Us On Facebook: https://www.facebook.com/TLDRnewsUK

How The Wealthy Hide Billions Using Tax Havens

"SecrecyWorld" author Jake Bernstein explains how the super-wealthy hide billions using tax havens and shell companies.
--------------------------------------------------
FollowBusiness Insider on Twitter: https://twitter.com/businessinsider
Follow BI on Facebook: http://bit.ly/1W9Lk0n
Read more: http://www.businessinsider.com/
--------------------------------------------------
Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BIVideo team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Tax Havens 101: the High Cost of Going Offshore

What are offshore tax havens, who uses them, and how do they work? Find out in our explainer, and get the full story at icij.org/offshore.
Written by Kimberley Porteous and MarinaWalker Guevara, with Scott Higham. Animations by Sohail Al-Jamea and PattersonClark.

KPMG and Tax Havens for the Rich : The Untouchables - the fifth estate

A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world
KPMGCanada devised what it called an “OffshoreCompanyStructure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it.
In theU.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency.
A federal government inquiry vowing to get to the bottom of it went nowhere
What was the accounting firm trying to hide?
With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man offshore tax haven, we expose the details of the scheme and unveil the names of some of the wealthy clients.
A joint investigation by the fifth estate and Radio-Canada’s Enquete program
---
Subscribe for more videos from the fifth estate : http://bit.ly/25W8cpn
Connect with the fifth estate online :
Website : http://bit.ly/1d0FBxq
Facebook : http://bit.ly/1UO9B8S
Twitter : http://bit.ly/237VM8P
Instagram : http://bit.ly/25W8SLs
About the fifth estate : For four decades the fifth estate has been Canada's premier investigative documentary program. Hosts Bob McKeown, Gillian Findlay and Mark Kelley continue a tradition of provocative and fearless journalism. the fifth estate brings in-depth investigations that matter to Canadians – delivering a dazzling parade of political leaders, controversial characters and ordinary people whose lives were touched by triumph or tragedy.

Tax Havens and Off-Shore Banking Explained

Tax havens and off-shore banking are VERY broad and complex topic. Tax havens have risen from relative obscurity and offshore banking has become a very hotly debated topic.
I hope this video brings light to anyone interested in the topic and serves as an informative introduction!
▼ Follow Me On Social Media! ▼
Twitter: https://www.twitter.com/cheaphouseswilm
Instagram: https://www.instagram.com/teddysmithnc/
Pinterest: https://www.pinterest.com/teddysmithnc

The Bizarre Economics of Tax Havens and Pirate Banking: James S. Henry at TEDxRadboudU 2013

James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.
In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.
The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.
Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.
About TEDx
In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)

The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama.
According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe.
Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future.
BERMUDA
Bermuda earned the dubious distinction of ranking No. 1 on Oxfam’s 2016 list of the world’s worst corporate tax havens. Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, U.S. multinational companies have raked in huge amounts of money in Bermuda, notably recording profits of $80 billion in 2012. That amount exceeded their profits reported in Japan, China, France and Germany combined.
NETHERLANDS
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam’s list of the worst corporate tax havens placed this Benelux country at No. 3.
National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam. In the Netherlands, one such tax incentive cost an estimated 1.2 billion euros in 2016. That is equivalent to 7.6 percent of what the Netherlands receives in total income from corporation tax.
LUXEMBOURG
Like the Netherlands, Luxembourg is one of the three countries that form the Benelux countries, which also have a reputation for being tax shelters. Luxembourg’s tax-haven status comes from its business-friendly laws that allow international companies to park portions of their business in the nation and dodge billions in tax bills. Tax-friendly characteristics include tax incentives, zero percent withholding taxes and evidence of large-scale profit shifting, according to Oxfam.
CAYMAN ISLANDS
The Cayman Islands offer “probably the biggest (tax) loophole now for individuals as well as the multinational corporations,” said CrystalStranger, Los Angeles-based tax operations director at 1st Tax Inc. The Cayman Islands come in at No. 2 on Oxfam’s list of the worst tax havens.
The Caymans are a British Overseas Territory, a designation that seems to be a common thread running through several tax havens on the Oxfam list. The Caymans and other countries with laws that allow a corporation to be formed and retain assets without paying tax, Stranger said. “When held for business purposes, this is perfectly legal and not a tax-avoidance strategy,” she said.
However, the tax advantages and implications are complex, and a professional is probably best equipped to handle them, she said.
The tax benefits can be worthwhile to the many businesses from the U.S. and around the world that have assets in the Caymans. In 2012, American multinational companies reported $46 billion in profits from subsidiaries based in the Cayman Islands, according to a report by Citizens for Tax Justice. That compared to a gross domestic product of just $3 billion for the territory.
SINGAPORE
This tiny sovereign city-state was once a British colony, and now is a hub for multinational corporate subsidiaries. Like the Netherlands and Luxembourg, Singapore actually has “reasonable” nominal corporate tax rates, according to Oxfam. Yet, like those nations, Singapore still finds a way to be one of the top tax havens in the world.
Singapore circumvents its “reasonable” corporate tax rates through tax incentives, lack of withholding taxes and what appears to be substantial profit shifting, according to the Oxfam report.
CHANNEL ISLANDS
Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries. For example, Morgan Stanley alone has 33 tax haven subsidiaries in the Channel Islands, according to a report by the Citizens for Tax Justice.
The Channel Islands consist of two British Crown dependencies:
The Bailiwick of Jersey, consisting of Jersey
The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and SarkCrown dependencies are not part of the United Kingdom, but are instead self-governing territories.
Jersey’s status as a tax haven rose in the mid-20th century, when many rich British citizens moved their wealth to the island. At that time

Paradise Papers: Global elite used offshore accounts to avoid taxes

The so-called "ParadisePapers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak.
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Offshore Company Tax Laws, Strategies, Avoidance & Shelters

Offshore tax strategies, avoidance, schemes and shelters. Do the international havens really work? What are the corporate loopholes and structures? Can you put money overseas and not pay until you bring it back? Common misconceptions are clarified and explained step-by-step.

Tax shelter

Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws.

In North America, a tax shelter is generally defined as any method that recovers more than $1 in tax for every $1 spent, within 4 years.

Types of tax shelters

Some tax shelters are questionable or even illegal:

Offshore companies. Due to differing tax rates and legislation in each country, tax benefits can be exploited. Example: If Import Co. buys $1 of goods from India and sells for $3, Import Co. will pay tax on $2 of taxable income. However, tax benefits can be exploited if Import Co. is to set up an offshore subsidiary in the British Virgin Islands to buy the same goods for $1, sell the goods to Import Co. for $3 and sell it again in the domestic market for $3. This allows Import Co. to report taxable income of $0 (because it was purchased for $3 and sold for $3), thus paying no tax. While the subsidiary will have to pay tax on $2, the tax is payable to the tax authority of British Virgin Islands. Since the British Virgin Islands has a corporate tax rate of 0%, no taxes are payable.

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Tax Shelter

Another vacant building is a tax shelter and nothing moreCemented doors and windows keeping out the poorWhat purpose does it serve to keep these buildings emplyDestroying our community to protect abandoned propertyFunctioning as financial loopholes instead of the housing they could makeBecause those owning empty buildings claim a generous government tax breakSo is housing just a luxury to b enjoyed by the upper classAnother right you don't deserve if you haven't got the cashThe trouble with ruling class financial tacticsIs that it's the people who need shelter not their taxesDestruciton described as progress evicting people from their shelterRenovating and rebuilding under the guise of making cities betterBut who does this progress better by putting people in the streetHas it benefitted the community when construction is completeHousing is not a privledge, not a luxury but a rightcommunities don't function any better with their problems out of sightOur communities consise of more than concrete, brick and steelIt's made up of people including the homeless they concealThe trouble with ruling class financial tacticsIs that it's the people who need the shelter not their taxesEvery inch of established land got that way by means of forceAnd by paying rent were forced to contribute to that sourceWith our communities our people suffer under this establishmentIt's not about housing these are human rights they make us rentOnly the landlords profit as our lives are sold and boughtAnd those who fight this process get evicted from their squatSo while our leaders carry out these unjust squat evictionsThey prove that freedom can't exist under capitalist conditionsThe trouble with ruling class financial tactics